What's Happening?
Barrick Mining Corp. is in discussions with Mali's government to resolve a two-year dispute over the Loulo-Gounkoto gold mine. The conflict arose from disagreements over a new mining code and alleged back
taxes. Barrick's representatives are negotiating terms to accept the mining code and regain control of the mine, which was previously seized by Mali's military leadership. The mine, a significant asset for Barrick, produced 723,000 ounces of gold in 2024 but has been under state management since operations were halted.
Why It's Important?
The resolution of this dispute is crucial for Barrick as the Loulo-Gounkoto mine is one of its most important assets. Regaining control would allow Barrick to capitalize on the current high gold prices and improve its financial performance. The negotiations also highlight the challenges faced by international mining companies in navigating regulatory and political landscapes in foreign countries. A successful agreement could set a precedent for resolving similar disputes and encourage investment in Mali's mining sector.
